Latest Legislation Headlines
All the headlines from our Legislation Topic Page, ordered by recency.
NAII Says Capping Med Mal Damages Key to Stabilizing Market
Aug 6 2002 // A bill that passed the Nevada Legislature during a special legislative session last week should curb excessive litigation, which will help restrain increases in the cost of medical malpractice insurance and improve the...
New Florida Insurer of Last Resort Now in Operation
Aug 6 2002 // Florida Treasurer and Insurance Commissioner Tom Gallagher announced that Citizens Property Insurance Corporation (Citizens) has taken over as the state’s insurer of last resort for consumers unable to obtain...
Community Investment Reporting and theIndustry – “CRA” California Style
Aug 5 2002 // With the recent spotlight being placed on the 25th anniversary of the federal Community Reinvestment Act (CRA), legislation enacted in 1977 which requires banks to increase their investments and loans to low income...
AIA LIKES NCOIL’s MOVES IN STATE REGULATION
Aug 5 2002 // According to the Alliance of American Insurers (AAI), the National Conference of Insurance Legislators (NCOIL) took a giant step toward improving uniformity in state regulation by formally adopting model legislation based...
Disparities Between House, Senate Bills Hold Up Terrorism Backstop
Aug 5 2002 // The U.S. insurance industry must have breathed a collective sigh of relief recently, when the Senate approved terrorism insurance backstop legislation after months of debate and delay. But now legislators must reconcile...
Safeguarding Customer Privacy Creates New Issue for States
Aug 5 2002 // Insurance associations have been abuzz the past couple of weeks with regard to impending changes and new proposals to privacy regulations under Congress’ Gramm-Leach-Bliley Financial Modernization Act (GLB). Each...
AIA LIKES NCOIL’s MOVES IN STATE REGULATION
Aug 5 2002 // According to the Alliance of American Insurers (AAI), the National Conference of Insurance Legislators (NCOIL) took a giant step toward improving uniformity in state regulation by formally adopting model legislation based...
Community Investment Reporting and theIndustry – “CRA” California Style
Aug 5 2002 // With the recent spotlight being placed on the 25th anniversary of the federal Community Reinvestment Act (CRA), legislation enacted in 1977 which requires banks to increase their investments and loans to low income...
Top Three Texas Residential Insurers Under Investigation
Aug 5 2002 // Responding to moves by Farmers Insurance Company to further restrict coverages in homeowners policies it will write in the state, Insurance Commissioner Jose Montemayor expanded the state insurance department’s...
Safeguarding Customer Privacy Creates New Issues for States
Aug 5 2002 // Insurance associations have been abuzz the past couple of weeks with regard to impending changes and new proposals to privacy regulations under Congress’ Gramm-Leach-Bliley Financial Modernization Act (GLB). States...
AIA Applauds Okla. Regulatory Reform Order
Aug 2 2002 // An order signed last week by Oklahoma Insurance Commissioner Carroll Fisher will ease regulatory restrictions on an insurer’s ability to develop and introduce new commercial lines insurance products in the state,...
Calif. Commissioner Applauds Passage of AB 2984
Aug 1 2002 // California Insurance Commissioner Harry Low applauded Gov. Gray Davis for signing Assembly Bill 2984, which will help the California Department of Insurance (CDI) to preserve California’s high licensing standards...
IIABA Outlines Models for Auto Reform to NCSL
Jul 31 2002 // Today’s auto insurance oversight system suffers from a lack of efficiency, cost effectiveness, and timely decision-making, but greater regulatory reliance on market competition would help streamline and depoliticize...
Ala. to Hold Regulation Hearings
Jul 26 2002 // The Alabama insurance commissioner will hold hearings at the state department of insurance, 201 Monroe Street, suite 1700, Montgomery, Alabama, on Aug. 14. Issues to be discussed include: • Revision of Regulation No. 106...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines, The Industry’s Safety Valve
Jul 22 2002 // It is a rare occurrence today, but not so long ago tying down the safety valve was viewed as an acceptable way to improve a steam boiler’s performance when demand peaked. The objective was to increase the...
NAII VP Takes a Look at California’s State of Insurance
Jul 22 2002 // Sam Sorich, vice president with the National Association of Independent Insurers (NAII), says that despite the challenges facing agents and companies in California, the industry is still moving along and meeting its...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
Surplus Lines Industry Continues to Play its Role
Jul 22 2002 // Since it’s inception in the early 19th century, the surplus lines industry has played a significant role in the insurance world: providing the buyer with insurance not available in the standard, admitted markets. As...
A Short Walk Through Surplus Lines
Jul 22 2002 // To many insurance professionals, surplus lines policies are a mystery. Many think of it as a coverage for strange risks with odd provisions. But getting a grasp on surplus lines coverage is not difficult. Let’s take...
